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Technology Stocks : Q/Media Software Corp (QMS.T) -- Ignore unavailable to you. Want to Upgrade?

To: robin hood who wrote (544)	12/9/1999 10:46:00 AM
From: lwk	Read Replies (1) \| Respond to of 568

Q-Media First Quarter Revenues Highest In Company History Vancouver, B.C.-- Q-Media Services Corporation today announced record revenues and strong profits for the first quarter of fiscal 2000. First Quarter Highlights (three months ended October 31, 1999 compared with three months ended October 31, 1998) * Revenues were $28.1 million compared with $26.8 million. * Earnings before interest, taxes, depreciation and amortization (EBITDA) were $3.3 million compared with $3.1 million. * Net earnings were $1.5 million compared with $1.6 million. * Net earnings per share were $0.14 basic and $0.10 fully diluted compared with $0.15 basic and $0.09 fully diluted. Robert M. Lawrie, President, said that the outstanding results for the first quarter included increases in the key financial measures of gross margin, EBITDA and fully diluted earnings per share, compared with the same period last year. Net earnings were slightly lower as the Company's tax expense increased by 55% over last year's first quarter. He said increases in both the gross margin and EBITDA margin demonstrate the success of Q-Media's focus on integrating its two relatively newly acquired operations in Seattle and Irvine. The integrated operations continue to show improvement and the Company is looking for additional opportunities for expansion. Q-Media has an excellent record of growing both through acquisition as well as internal expansion. During the first quarter of fiscal 2000 and carrying into the second quarter, the Company was setting up a new operation in Nashville, Tennessee, at the request of Dell Computer, a significant Q-Media customer. The facility will be fully operational later in the second quarter, including CD-ROM replication. The outlook for fiscal 2000 is for revenue and earnings increases. During the coming second quarter, however, the traditional slowdown of business over the Christmas period is expected to result in moderately lower revenues and earnings. Q-Media Services Corporation is a leading outsourced service provider to the growing software industry. Its full range of services include software replication (CD-ROM and other media), packaging solutions, warehousing and inventory management, and order fulfillment. It operates regional manufacturing facilities in close proximity to customers in North America's major software growth areas: Vancouver, B.C.; Seattle, Washington; San Jose and Irvine, California; Austin, Texas; and Nashville, Tennessee. Shares of Q-Media Services Corporation are traded on the Toronto Stock Exchange under the symbol (QMS). U.S. S.E.C. exemption: 12g3-2(b) 82-3761. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Marla Gale or Jon W. Kieran, Investor Relations (416)868-1079 Hume, Kieran Inc. marla@humekieran.on.ca